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Author Archive ‘ Binu Paul ’

BigBasket FY16 revenue triples, losses mount

Thursday, January 5, 2017 | More »

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The country’s top online grocer BigBasket has registered an over-three-fold increase in revenue to Rs 563 crore for the financial year ended March 2016, a financial daily reported quoting Hari Menon, co-founder & CEO, BigBasket. Sales in the previous fiscal stood at Rs 170 crore. However, net ...

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Kalaari Capital-backed Eatfresh shuts down retail food delivery

Internet-first restaurant brand Eatfresh, owned and operated by Chennai-based Ubiquitous Foods Pvt Ltd that also runs the bakery chain Ovenfresh, has shut down its retail food delivery services. According to a message on the website, the company has stopped its on-demand meal delivery service, but w...

4 January, 2017 | More »

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Temasek-backed InnoVen sets up lenders’ consortium to fund startups

As venture debt financing begins to gain momentum in India, Temasek-backed InnoVen Capital India Pvt. Ltd has created a consortium of banks and non-banking financial companies (NBFCs) to provide debt capital to startups in the country. Christened InnoVen Credit Assistance Program (InnoVenCAP), the p...

4 January, 2017 | More »

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Income falls from Rs 70,000 to Rs 15,000, Ola, Uber drivers take to streets

App-based taxi drivers’ concerns around falling incomes and preferential treatment to leased cabs seem to be spreading to more cities. The latest wave of protests began in Hyderabad on December 30, when a vast majority of cab drivers belonging to Ola and Uber called for a five-day strike against d...

3 January, 2017 | More »

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Facebook selects three more Indian startups for FbStart programme

Facebook has picked three more Indian startups namely rental platform SimplyMoveIn, skill-based networking app Skillmate, and social platform for investors and traders Talkoot – for its early-stage startup mentorship programme, FbStart. The startups will receive credits up to $40,000 and free tool...

2 January, 2017 | More »

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Flashback 2016: Challenging year for India’s unicorns

The internet and tech unicorns that sprung up in the recent years have inspired the entrepreneurial spirit among the country’s youth. They attracted billions of dollars of foreign capital and triggered the rise of hordes of startups. The good run in terms of expanding customer base, successive rou...

30 December, 2016 | More »

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Flashback 2016: Amazon in pole position as revenue surges, capital flows in

When Amazon looks back at its journey in India, 2016 might stand out as the year when it turned the tables on arch-rival Flipkart. From narrowing the gap with India’s e-commerce numero uno to making and committing mammoth investments, it seems the Jeff Bezos-led company is now setting the stag...

29 December, 2016 | More »

Alibaba

Alibaba gearing up for India entry, to open office in Mumbai

Further fueling speculations of its imminent entry into the Indian market, Chinese e-commerce major Alibaba Group is establishing its first office in the country in Mumbai. Jack Ma-owned Alibaba is setting up an office at Bandra-Kurla Complex (BKC) in Mumbai, reports Business Standard. The company h...

29 December, 2016 | More »

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E-commerce startup The Postbox receives funding from Chennai Angels

The Postbox, a Chennai-based art and lifestyle e-commerce firm, has raised an undisclosed amount of angel funding from The Chennai Angels. Hourglass Design Pvt Ltd, which operates The Postbox, plans to use the capital to expand its product line, strengthen its team and will invest in marketing, the ...

29 December, 2016 | More »

Ola

Flashback 2016: Year of wobbly ride for Ola

Homegrown cab-hailing firm Ola was in the news for more wrong reasons than right in 2016, from drying coffers and falling valuations to rumours of a down round and a nasty war of words with arch rival Uber Technologies Inc. Although funding woes and falling valuations were widespread across startups...

28 December, 2016 | More »

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